Fondo, a software platform offering financial services such as bookkeeping, tax filing and tax credits to early-stage start-ups plans today to release its inaugural Founders’ Frontier: State of Early-Stage Startups report. The report is based on survey responses provided by founders to help capture sentiment and data points on startups across regions.
The respondents were early-stage start-ups that have secured seed through A round funding. Responses obtained deliver insights into founder salaries, runway, and cash burn rates.
“As a founder, the questions I have are often about how I am doing compared to other startups. I think this report will help others get some sense of how they measure against key benchmarks for early-stage startups,” says Fondo founder and CEO David J. Phillips. “Our mission at Fondo is to help founders succeed and this report is just one more way we can help them navigate their journey to success.”
The report found that even in the current economic climate more than 61% of founders feel optimistic about the future of their startups, with 18% feeling very optimistic. Additionally, many believe that funding conditions in 2023 will continue to improve. Most respondents (80%) have never considered raising funds outside of a traditional investor ecosystem and aim to continue to try and raise funding over the course of the next few months.
“David has always had a pulse on the start-up ecosystem here in San Francisco and is a strong supporter of startups,” says Brian Simmons, Fondo’s Chief Product Officer. “Knowing his passion and vision for helping startups directly translates into our mission: capturing impactful data that delivers value and helps start-ups make decisions that impact their success.”
Fondo plans to launch the report on an annual basis and grow the report to include other key partners in the startup ecosystem. The 2023 Founders Frontier: State of Early-Stage Startups report can be found here.
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